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20121201
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CSPAN 1
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CSPAN
Dec 9, 2012 10:30am EST
that caught my attention, which is your support for the initiative offered by senator rob portman. lawmakers can adopt a version of the so-called dollar rule to address the 2011 debt ceiling. policymakers could agree at the beginning to cover that here -- year's budget. they could -- adopting some form of this rule would be a good safeguard. i appreciate his comments. isn't this exactly what we did that now everyone is trying to get out of? we have a dollar of spending reductions. 1.2 is already in place. the other is in the sequester. isn't that what we did? if that isn't a good idea, why are you and the the others now suggesting it is not a good idea? >> let me say a few things. first, the broad context. we need to get rid of the debt ceiling law. it is agonistic. we need to get rid of it. i suggest that some version of the dollar for dollar rule should be incremented. at least considered. it does not need to be one-for- one. it could be 50%. that is not going forward. my view is that we need to nail down how we can get to fiscal sustainability. get rid of the debt ceiling law. we need som
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